Chord shareholders would control about two-thirds of the combined company, while Enerplus holders would control the remainder.

The iron-ore producer said its average price for iron ore was roughly US$108 a metric ton versus about US$87 a ton a year earlier.

Quarterly sales tripled from a year ago, surpassing Wall Street’s heightened expectations, and Nvidia indicated momentum from the artificial-intelligence boom remains strong.  

Rio Tinto reported a 19% decline in annual net profit and cut its payout to shareholders following a drop in aluminum and copper prices.

BAE Systems said it expected sales to rise 10-12% this year as governments ramp up spending on military equipment, faced with escalating geopolitical tensions.

Glencore’s full-year adjusted earnings came in at $17.1 billion after coal prices retreated from the record highs that followed Russia’s invasion of Ukraine.